Craig Company experienced an accounting event that is recorded in the T-accounts as follows:Cash19,000 Notes Payable 20,000 Discount on Notes Payable1,000 How does this event affect the elements of Craig's financial statements? Assets=Liab.+EquityRevenue?Expense=Net Inc.Cash FlowA.+=NA+++?NA=++ OAB.+=++?NA?+=?+ FAC.+=++NANA?NA=NA+ FAD.+=++NANA?NA=NA+ OA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: C
Business
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